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| Topic: |
Business
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| Number of pages / Number of words: |
11 / 2820 |
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These experienced traders were earning 10 to 20 times the amount of his salary in bonuses and as identified above, Kerviel’s role in the arbitrage department did not enable him to make these supernormal profits which restricted his freedom to invest, hampering his motivation.
A question you may ask is why was he able to generate such huge profits under the noses of his colleagues and higher level management?
Kerviel believed the management closed its eyes as to how he did it and how he bet...
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As long as profit was made, it was irrelevant how. (O’Doherty, FT Feb. 4th).
It is hard to disagree with the above statement as Soc Gen invests billions of shareholders funds across the market, so strict controls are imperative. So how could a company which is prided upon its stringent controls not recognise the ?1...
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